Daily Forex Analysis – USD/CHF
In today’s Daily Forex Analysis, the Intraday Outlook for USD/CHF remains largely neutral, with ongoing consolidation around the 0.8945 mark. A further pullback is plausible, but any decline should find a floor at the revised 0.8745 support, setting the stage for another upward thrust. A break beyond 0.8945 would pave the way for a challenge to the 0.9148 cluster resistance.
Zooming out for our Daily Analysis, the bounce back from the 0.8553 medium-term low is primarily viewed as a corrective phase within the greater downtrend that initiated at the 1.0148 high in 2022. A further ascent towards the 0.9148 cluster resistance, which coincides with the 38.2% Fibonacci retracement of the slide from 1.0148 to 0.8553 at 0.9162, can be expected. However, strong resistance is likely to cap any gains during the initial attempts.
Analysis Summary
The USD/CHF pair shows signs of consolidation in our Daily Forex Analysis, with a neutral intraday bias. While a deeper pullback is possible, the downside is expected to be limited by the 0.8745 support level. Key resistance stands at 0.9148.
Key Points
- Neutral Intraday Outlook for USD/CHF
- The downside likely capped at 0.8745
- 0.9148 as the next crucial resistance level
